Dar Al-Arkan Sukuk Company Ltd 3rd Quarter Results

RNS Number : 7219L

Dar Al-Arkan Sukuk Company Ltd

11 November 2024

 

	Dar Alarkan Real Estate Development Company announces its interim financial results for the period ending on 30-09-2024 (9 months)
		All figures are in (Millions) Saudi Arabian Riyals
	Element	Current quarter	Similar quarter for previous year	% Change Current	Previous quarter	% Change
	Sales / Revenue	918.73	715.70	28.4%	961.56	-4.5%
	Gross Profit (Loss)	412.11	285.35	44.4%	383.74	7.4%
	Operational Profit (Loss)	332.77	234.31	42.0%	317.49	4.8%
	Net Profit (Loss) after Zakat and Tax	134.74	151.91	-11.3%	165.12	-18.4%
	Total Comprehensive Income	151.48	142.76	6.1%	145.38	4.2%
	Element	Current period	Similar period for previous year	% change
	Sales / Revenue	2,745.22	2,306.25	19.0%
	Gross Profit (Loss)	1,151.64	901.78	27.7%
	Operational Profit (Loss)	955.48	737.22	29.6%
	Net Profit (Loss) after Zakat and Tax	453.46	416.01	9.0%
	Total Comprehensive Income	435.13	396.58	9.7%
	Total Share Holders Equity (after deducting minority equity)	20,727.01	20,100.62	3.12%
	Profit (Loss) per Share	0.42	0.39	-
	Element	Explanation
	The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is	The increase in sales revenue for the current quarter compared to the same quarter of the last year is mainly due to higher property sale and inclusion of project management consulting revenue.
	The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	In spite of higher property sale the net income is decreased mainly due to the increase in operating expenses, losses from associates and increase in finance costs.
	The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is	The decrease in sales revenue for the current quarter compared to the previous quarter is mainly due to lower property sale.
	The reason of the increase (decrease) in the net profit during the current quarter compared to the previous one is	The decrease in net income is mainly due to lower property sales. The increase in operating cost, losses from associates and the decrease in non-operating income from Islamic Murabaha deposits were also impacted to the net income.
	The reason of the increase (decrease) in the sales/revenue during the current period compared to the same period of the last year is	The increase in sales revenue for the current period compared to the same period last year is mainly due to higher property sale and inclusion of project management consulting revenue.
	The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	The increase in net income is mainly due to the higher property sales. The increase in operating expenses, higher finance cost and the losses from associates were off-set with higher non-operating income from Islamic Murabaha deposits and impacted the net income.
Other notes	1.  Statement of the type of external auditor's report	Unmodified conclusion
	2.  Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	None
	3.  Reclassification of Comparison Items	None
	4.  Additional Information	None

 

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